French billionaire and CEO of luxury conglomerate LVMH, Bernard Arnault, surpassed Elon Musk as the world’s richest person on Thursday. This comes after shares in LVMH surged nearly 1.5% in morning trading in Europe. Arnault, the Chairman and Chief Executive Officer of LVMH, now has an estimated net worth of $210.1 billion, surpassing Musk’s fortune of $208.6 billion.
Arnault’s wealth increased by $7.7 billion on Thursday, thanks to the rise in LVMH’s shares which reached $830 (€763.50). This marks a significant milestone for the French billionaire as he is now at the top of the global wealth rankings. It will be interesting to see how this development plays out in the coming days and how Arnault plans to maintain his position as the world’s richest person.